Wednesday, November 18, 2015

Copper at six year lows

Copper continues with its bearish trend, but at the moment it seems like it is finding some support at the 206.62 level. Due to the fact that the bearish trend is still strong, the price of copper could fall towards the 202.00 level, which could act as a temporary support. Likewise, due to the big drop, we could see a bullish pullback and the commodity could try to go and visit the 220.17 zone, which has acted as a support in the past and now it could act as a resistance.


at

7 comments:

  1. UnknownNov 19, 2015, 9:00:00 AM

    Broke below the support level, strong bearish trend continues.

    ReplyDelete
  2. UnknownNov 19, 2015, 9:42:00 AM

    Worrying, considering the fact that this commodity is a reliable indicator of the global economy.

    ReplyDelete
  3. UnknownNov 19, 2015, 10:49:00 AM

    The bearish trend seems to have no end.

    ReplyDelete
  4. UnknownNov 19, 2015, 1:32:00 PM

    I agree wit your analysis, thank you.

    ReplyDelete
  5. UnknownNov 19, 2015, 2:58:00 PM

    Strong downward trend.

    ReplyDelete
  6. UnknownNov 19, 2015, 4:47:00 PM

    Straight to the point! Congrats!

    ReplyDelete
  7. UnknownNov 22, 2015, 6:29:00 AM

    Well spotted, I will keep an eye on the price.

    ReplyDelete

Subscribe to: Post Comments (Atom)

WTI oil at the 200 day EMA

WTI oil breaks below the 66.27 support zone and accelerates its bearish momentum towards the 200 day EMA around the 64.30 level. We have b...